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Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
As of Dec. 2023, Regional Express Holdings has a Sloan Ratio of 7.51%, indicating the company is in the safe zone and there is no funny business with accruals.
Regional Express Holdings (ASX:REX) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Dec. 2023, Regional Express Holdings has a Sloan Ratio of 7.51%, indicating the company is in the safe zone and there is no funny business with accruals.
Regional Express Holdings Sloan Ratio % Related Terms
Regional Express Holdings Sloan Ratio % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ASX:REX vs DAL, LUV, UAL: Sloan Ratio % Comparison
For the Airlines subindustry, Regional Express Holdings's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Regional Express Holdings Sloan Ratio % vs Transportation Industry
For the Transportation industry and Industrials sector, Regional Express Holdings's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Regional Express Holdings's Sloan Ratio % falls into.
Regional Express Holdings Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Regional Express Holdings's Sloan Ratio for the fiscal year that ended in Jun. 2023 is calculated as
For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data.
Regional Express Holdings's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 30.857 (Jun. 2023 ) + -3.233 (Dec. 2023 ) = A$27.6 Mil.
Regional Express Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 2.257 (Jun. 2023 ) + 9.904 (Dec. 2023 ) = A$12.2 Mil.
Regional Express Holdings's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -21.658 (Jun. 2023 ) + -18.225 (Dec. 2023 ) = A$-39.9 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Regional Express Holdings (ASX:REX) has a Sloan Ratio % of 7.51% as of Dec. 2023. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Regional Express Holdings and its competitors.
Is Regional Express Holdings' Sloan Ratio % too high?
Regional Express Holdings' current Sloan Ratio % is 7.51%. Overall, Regional Express Holdings has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.
How does Regional Express Holdings' Sloan Ratio % compare to DAL and LUV?
Regional Express Holdings' Sloan Ratio % of 7.51% can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for a Transportation company?
A good Sloan Ratio % depends on the Transportation industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Regional Express Holdings and its competitors. Regional Express Holdings's current Sloan Ratio % is 7.51%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Regional Express Holdings stock overvalued right now?
Regional Express Holdings (ASX:REX) has a current Sloan Ratio % of 7.51%. The current Sloan Ratio % is 7.51%. Regional Express Holdings' overall GF Score™ is 4/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Regional Express Holdings (ASX:REX), the current Sloan Ratio % is 7.51% as of Dec. 2023. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Regional Express Holdings Ltd is an Australian-based airline company. The company is engaged in the provision of air services for the transportation of passengers and freight. Its operating segment includes Regular public transport, Charter and other, and Training. The company generates maximum revenue from the Regular public transport segment. Some of its services include Web Check-in; Print Invoices; Safe Hand Baggage; Travel Insurance and others.
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